Comment Text:
i0-001
COMMENT
CL-00335
From:
Sent:
To:
Subject:
Matt Schneider
Monday, January 18, 2010 2:05 PM
secretary
against 10:1 proposal
CFTC Representative,
I'd like to voice my dissent for the current
10:1
leverage change proposal for the Forex market. Given the financial
climate of our day, I believe that some changes are necessary within the markets in general- however, this
prospective change would be sweeping, short sided, and non-productive. It would not protect consumers, rather it
would propel them into foreign markets (UK, Australia, etc). (thereby advantaging foreign countries instead of the
US). A move such as this would not only be inconvenient to US persons (as they would then need to have foreign
accounts to accomplish the same ends as before), but also demonstrate a backwards, unfocused, and non sensical
approach to regulatory bodies in other countries. As a trader in the Forex market, as well as an employee of a Forex
broker, I may be effected by this proposal on a couple of different sides.
Please consider the overall ramifications of this prospective change before taking such sweeping action. Thank you
for your time and consideration.
Best regards,
Matt Schneider
Client Services Trader
Toll Free: 866-468-3739
Fax: 1-212-884-0609
3165 E Millrock Dr, Ste 200
Salt Lake City, UT 84121
www.ibfx.com
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